Police Scotland said the man suffered serious injuries to his legs and torso in the incident at the AMCO construction site in Newcraighall Road.
He was taken to the Royal Infirmary of Edinburgh where he remains in a serious condition.
Sergeant Brian Smith said: “The elderly male has sustained some serious injuries as a result of this collision and we are now keen to speak with anyone who was in the area at the time.
“Motorists, pedestrians and other members of the public who witnessed the incident, or who have information relevant to this investigation are asked to contact police immediately.”